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General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.

Henrik Fisker leaves his eponymous company

Henrik Fisker, co-founder of Fisker Automotive, has resigned from the company as Fisker seeks funding to move forward. But Henrik Fisker managed to convince the car world his Fisker Karma was credible, even if its gestation has been plagued by problems,  the latest of which has been the demise of its battery supplier – A123 Systems – and the wrecking of a dock full of seemingly uninsured Karmas by Hurricane Sandy. The current problems at Fisker has seen them seeking a new investor, with two Chinese companies – Geely and Dohnfeng – vying to take a majority stake in Fisker Automotive and help Fisker recover sales of the Karma and move on with Project Nina, the smaller Fisker Atlantic.

Seat unveils a hybrid: Leon Twin Drive Ecomotive

By Gareth Evans First Official Pictures 23 January 2009 09:00 Seat showed its prototype Leon Twin Drive Ecomotive today at its technical centre near Barcelona. The finished petrol-electric hybrid is expected in showrooms by 2014. The new hybrid Leon uses Twin Drive with power generated by an electric motor for shorter, urban trips while, for longer drives, the car seamlessly switches to an internal combustion engine.